January 21, 2021

Young doctor giving helping hands for elderly woman

Family history of Alzheimer’s Disease – can I get Life Insurance?

What is Alzheimer’s Disease?

Alzheimer’s disease is the most common type of dementia, affecting an estimated 850,000 people in the UK.  Dementia is a progressive neurological disease which affects multiple brain functions, including memory. (Alzheimer’s society 2019)

The exact cause of Alzheimer’s disease is unknown. Although, a number of things are thought to increase your risk of developing the condition, which includes:

  • age
  • family history of the condition
  • previous severe head injuries
  • lifestyle and conditions associated with cardiovascular disease

It is also becoming more common to have both – Alzheimer’s and vascular dementia together (mixed dementia).

Find out more about Alzheimer’s Disease on the NHS Website.

Case study – Can I get Life Insurance with a family history of Alzheimer’s Disease?

Our client contacted us to discuss her life insurance requirements.  Her existing policy was originally put in place to protect her mortgage, which had since been repaid, so her main reason for arranging protection was to leave a lump sum to her children.  Her existing policy was due to expire in 2019, so we recommended that she consider an insurance policy over a longer-term.

Our client was interested in a policy with a sum assured of £25,000 until she reached 90 years old.

Family History of Alzheimer’s Disease

During the fact-finding process, our client disclosed that her sister had been diagnosed with Alzheimer’s disease at the age of 59, plus she had suffered from stress caused by the serious illness of a family member.  She had had two months off work but hadn’t been prescribed any medication for it, or experienced any symptoms for around 18 months.

She told us that she had previously made an application for life insurance, but the premium was doubled due to both medical disclosures – making it unaffordable for her.  Our research found that most companies would load her monthly premium, ie make an additional charge on top of their standard quoted premiums.

Our process and advice

At Future Proof, we have access to specialist insurance companies who don’t deal directly with the public. They can offer more specialised policies that are designed to provide cover where other major providers can’t.

Our research process involves us contacting many insurers to find out the best possible outcome for our clients, which avoids any nasty shocks later on during the underwriting process.

Would the insurer add a ‘loading’ to their standard premium? (this is an additional sum charged on top of their standard monthly premium to reflect their additional risk).

Might they decline the application? We want to avoid wasting time by making applications which may be declined.

A great outcome

Our adviser found one Insurer who would offer her the cover she needed without any loadings or exclusions, and she was very happy with her new policy which fell within budget.

The policy – a term assurance policy with a sum assured of £25,000, over a term of 28 years for a monthly premium of £27.32 was also index-linked, which allows the sum assured and monthly premium to increase on an annual basis to offset the effects of inflation. It usually increases in line with the retail price index, or in the case of some insurers, by a specific percentage e.g. 5 per cent.

It pays to speak to an expert who can get the best possible outcome for you and your family.

We have up to date knowledge of the ever-changing landscape of underwriting for all providers in the UK. Future Proof are committed to thorough research so that you don’t have to. What’s more, our advice comes with no obligation or hidden costs.  You don’t pay us directly but we do get paid by the insurer if you decide to start a policy with them.

Our case studies are based on real client outcomes

All our case studies are based on actual client scenarios, many of which pre-date 2020.  We are confident that the acceptance decision made by the insurers would still be offered, although it is likely that the rates will have changed. Your own circumstances will determine whether what amount will be payable by you and would be fully discussed with you before any plan is implemented.

Please note that any premiums mentioned are indicative only and based on this specific case study/ example. Which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted.

Next Steps

Whilst you are welcome to get a quote online, we would recommend you speak to one of our advisers.

Any quote that your adviser provides you with will take into account your circumstances and medical history, as well as your budget!

An online quote is just that – a quote – it isn’t a definite offer of cover. What really matters is the premium you are offered, after your application has been assessed.

Call Freephone 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00.

Please feel free to read our Independent client reviews, or read about the team at Future Proof

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Interested in related stories?

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Why you can trust Future Proof.

The benefits of an index-linked insurance policy

Take a look at our handy guides ‘What Cover is Right for me?’

Do you suffer from a medical condition and concerned you can’t secure Life Insurance?  Please view our ‘Medical Guides’ for further information.

Whilst we will make every endeavour to help someone to arrange insurance, there is no guarantee of success.  All applications are subject to underwriting.

Links to third-party websites exist for information only, and we accept no responsibility or liability for the information contained on any such sites.
The existence of a link to another website does not imply or express
endorsement of its provider, products or services by us or St. James’s Place.

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